AMPFP’s Helmich steps aside as FPA committee chair
AMP Financial Planning’s director of advice-based distribution Steve Helmich has stepped aside as chairman of the FPA’s professional standards and ethics committee while the association investigates an enforceable undertaking (EU) made by the group to ASIC last week.
FPA chief executive Jo-Anne Bloch said Helmich had “undertaken to step aside” while a “detailed examination” of the AMPFP’s enforceable undertaking to ASIC in relation to super switching advice is underway.
In a letter distributed to members this week Bloch said the FPA will also be writing to AMP Financial Planning seeking further information with respect to FPA’s professional standards.
She said the FPA investigation would be “looking particularly at the need for further guidance to FPA members on any issues raised in the EU.
“AMPFP is an FPA principal member and, moreover, the issues raised have broad relevance to all licensees and their representatives,” Bloch said.
“I encourage all members to examine the enforceable undertaking, a public document, which can be downloaded from the ASIC website, www.asic.gov.au.
Recommended for you
The corporate regulator has announced its first adviser banning of the year with the permanent ban of a Queensland-based former adviser that was sentenced to seven years’ imprisonment.
The Australian financial advice industry has risen by more than 20 advisers this week, with nearly half joining WT Financial and Sequoia.
Two financial advice professionals have shared their tips for success when building an effective Professional Year program as more advisers look to bring on junior staff to their practices.
Numbers are in for 2024, with Wealth Data confirming how many advisers left during the calendar year and which business models saw the largest growth in terms of new licensees.
